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tv   [untitled]    July 29, 2011 4:00pm-4:30pm EDT

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led. us to. make a phone call so the e-mail tweet keep the pressure on washington so we can get past this. well there you have it folks with washington's still no closer to raising the debt limit i didn't word from president obama or not what exactly is plan b. the whole tweeting at congress thing doesn't work out. if those two things it makes me said to me you know. welcome to gary a.j. a ghost town in indiana frightening reality for one town because the the future
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that awaits us all washington doesn't get its act together. we have been watching former georgia congresswoman cynthia mckinney because she's traveling in the muslim world saying awful things awful things about her own country and we believe mr cain is being paid to do this but we can't confirm that but one of those awful so called awful things are just the truth congresswoman cynthia mckinney will join us live to set the record straight coming up and if. anything it's friday july twenty ninth four pm here in washington d.c. on this account for nothing watching our team. well instead of looking forward to a relaxing evening sorry weekend a relaxation this friday unfortunately this nation is still at the mercy of washington gridlock now d.n.a. is just around the corner as the august second deadline approaches and default
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looms prevent states and just how close are we according to our handy dandy little clock here four days seven hours and counting until doomsday now of course if you look at what's actually going on in washington yesterday the republicans in the house saw a huge defeat baner wanted to vote on his bill he was super embarrassed he had to pull the bill off the floor now there's talk about another showdown this evening but all of this frenzy action in washington really misses the bigger point we're screwed financially we cannot afford to pay our obligations and we're not taking in enough revenue to continue the system as it is now that is the point of view that's taken by my next guest who i spoke to earlier today artie's own financial market max kaiser is of course the host of the kaiser report here on our t.v. and what does he make of the debt battle here in washington take a look for yourself. well the rating on u.s. debt is definitely going to be downgraded and this is already happening on the
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periphery rating agencies and other places around the world are slashing that they're going to be downgrading american debt so that is baked into the cake but what's interesting here is that for ten years really sense post nine eleven we've had a war of savers versus speculators the speculators have been winning the speculators have been able to borrow money at near zero percent the savers have been the big losers there are a lot of people who are in the savers camp who want to see the u.s. to fault because this would mean that the bond market would crash but the yield on their savings would go up same thing for gold which is where a lot of people have run now in this war and gold prices have been telegraphing this catastrophe for ten years gold prices continue to hit new all time highs and the people who own gold are really love in this because they're going to see price of gold continue to skyrocket so that's why you think that washington has a is not involved in this whole thing i mean the easy thing to be saying that
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really this is enough made by wall street here. well washington is a peripheral player now we see this all over the world whether it's i.m.f. is now pulling the strings in europe they're also pulling the strings in washington christine legarde as a matter of fact said there's a new chief of the i.m.f. that the extraordinary exude the extraordinary privilege of the extravagant privilege of the u.s. dollar has been enjoyed since world war two is that at risk as the u.s. dollar loses its world reserve currency so the world is adjusting the dollar will lose its status as a world reserve currency u.s. debt will lose the aaa rating and it's a completely different configuration and washington is not the biggest player in this the global bankers are the biggest players the global hedge fund managers and that's where the action that is determining the outcome of this not not the players in washington they have already ceded control to the global banking industry but
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i'm going to get you to react to this just today there is a report that the c.e.o.'s of the nation's leading banks including surprise surprise that goldman sachs and j.p. morgan all ended up sending a letter to the white house and congress urging them pleading with them to please hurry up please hurry up and reach that debt ceiling agreement. right why do that if you're if you're saying here that they stand to profit from this whole mess. well live life i have goldman sachs jamie diamond and j.p. morgan these are what i call the nine eleven crybabies they refuse to compete in this world they want interest rates to be near zero they with a functioning u.s. economy would mean interest rates are higher which would destroy the speculators but put money into the pockets of working class people but the jamie diamonds in the lloyd blankfein to wall street in total there as i call their nine eleven crybabies they are they live on the teat of this subsidy that's given to them from the federal reserve and the treasury it's all about ensuring their bonuses and ensuring their salaries they need to grow up it's no longer you can't go to
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washington anymore the company and cry that oh i got hurt i'm i'm alive and i need more free money you can't do that anymore you have to compete in the globe now you put your big boy pants on and compete in the globe stop crying victimhood be an adult and all this blankfein and diamond they're the most overrated bankers in the history of the world they do nothing but suck corporate welfare and banking well far from washington and they're they're adding nothing to the productivity of the u.s. economy and they're discreet and it's really humiliating to have the witness this this is part of the process i suppose that america has to go through to get to the next level of global competitiveness because right now america's lost its competitiveness because of these these bankers who have destroyed the economy for a few extra bucks but whatever next level i mean if you're saying that we're going to get down right at the dollar is going to turn into trash if it's not. there ready what is the next level how do you get out of this mess. well the way you get
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out of this mess is you need to accept the fact that the dollar is in a bubble and needs to be marked down by fifty or sixty percent and you need to take the hit similar to what iceland did they said look we can't we're not going to spend the rest of our. time in the indentured servitude position from these bankers we need to take the hit let the krona collapse the us if they were being managed by somebody who knew something about economics and not barack obama who's financially illiterate they would allow the dollar to collapse against other currencies let the economy go through two or three years of a gut wrenching depression and then come out of it and rebuild but keep their sovereignty intact i mean they'd rather they are shock therapy of the way to go to keep your sovereignty otherwise america will end up like greece losing their sovereignty america will end up like other countries in the euro zone like ireland that's lost its sovereignty to the i.m.f. and these other backing institutions i think most americans would prefer to be
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sovereign and free than to be a vassal state of international bankers but when americans are not spearheading this and i'm sorry in front there but if you know that yes i'm sure americans do not want to see the loss of their sovereignty but the same time most average folks out there i mean i don't know if they could feed is going anywhere if we have fourteen point one million unemployed we have forty four million on food stamps i mean how much worse than think then again if we do this shock therapy approach. it's that they have this this as an even begun to unfold in terms of the tragedy of the economy here in the us because it's all about prices. the price of gas and food in america particularly the price of gas will triple from its current level and this is what people have to understand this is going to happen regardless of what obama does or john boehner does the global currency grid the three out of money system is collapsing this is what gold and silver are telling us and gas has been artificially cheap for decades through subsidies to coming out of government
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through the banking system as well as all these wars of convenience that the u.s. wages in iraq and afghanistan it's all just a murder for hire by the oil industry to keep the price of gas down to keep the man on the street calm and subdued but the lives coming off the cattle and now the gas prices are going to be six seven eight nine ten dollars a gallon like it is in europe and then we'll start to see some real action but that's baked into the cake as i said before that's not nothing that anyone can do is going to stop this because the post world war two era of adding debt to finance growth climax in two thousand and seven no amount of dead can stimulate any growth to pay this debt because the economy's reached at saturation and no amount of additional debt in this is all the plan that obama and boehner are putting forward is to restructure the debt or add to the debt that's not going to create enough growth to pay down the debt therefore it's so facto as night follows day this downward spiral of u.s. bonds u.s. credit rating in the u.s. economy is is not going to be interrupted by anyone or any policy and not familiar
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saying that i washington a third of a peripherial press player here in this whole mass of these tea party folks i mean do you think that they really understand a consequence of what they're pushing for do you think they understand and are in fact calling for this shock therapy collapse you know cut off the pinger to. remove the virus or do you think that it's just you know ignorance i'm going to oppose every single piece of legislation that comes before me because i got elected to do just that. well the tea party is financed through the koch brothers and their allegiance is to the oil industry and as prices of oil goes up the koch brothers make money in the tea party or on the street unemployed only in america to find a population is willing to go out of the street and fight for oligarchs and to fight for monopolists. this is only this is unique so america because everyone in america thinks they're only one lottery ticket away from being a billionaire they don't seem to comprehend the fact that maybe as a joint effort as this in
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a civil society they have rights that they can lobby for and push back against the speculators and these ghar workers and this is what is in my opinion as i've said at the top of this of the of the segment is that this savers are going to win this battle as the bond market crashes so all the nine eleven crybabies in austria going to get punched in the face like they should have gotten five years ago like obama should've done we took office in two thousand a kick out or kick out larry summers kick out ben bernanke to place all those guys in the face thrown to the curb bring in real as a responsible people like a paul volcker for example but instead he decided to just keep the status quo going into line the pockets of these bankers who now put a gun to a said and they've basically embarrassed him they want the election they want to recall the election it's like the recalling the presidential election by putting making barack obama appear as weak and ineffectual and financially illiterate as he now does is totally destroyed his career but it's good for these bankers but he really think that obama's and his own fronting and kicking those guys out of office
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that's just a handful of the significance of a much larger entrenched interest there could he really have done more than he had to it to change the status quo here. absolutely you've got well you have the example in the u.s. for example the savings and loan industry where you had a somewhat similar situation where a handful of corrupt bankers dominated industry and they went to the government to get six hundred billion dollars worth of damage essentially and those folks were ring fenced and they fifteen hundred bankers went to jail and over a twenty year period of time they worked out the problem had obama done something similar created a resolution trust corps type situation for all the bad debts and nationalize the banks for a year or two kicked out the financial terrorist like blankfein like jamie dimon like the folks at citigroup and wells fargo and who was caught laundering two hundred thirty billion dollars at the mexican drug money put those guys in jail bring in responsible bankers and restart the system but this is where his financial
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illiteracy is important because he does not really understand the mentions of this problem at the time well enough to do the right thing and now two years later it's taken him in the pants and he looks horrible at which is great again for the bankers but ultimately the global dynamic here savors versus speculators the savers are winning this battle of gold and silver as i said on my show kaiser report for the entire show that been on the air gold and silver they they are continuing to hit brand new highs it's the only currency in the world that is safe that is not encumbered by counterparty risk and this is just going to continue so this is really just that we're not even at the we're at the beginning of the middle of the crisis that started in two thousand and seven and the lehman brothers was the end of the beginning and now we're in the in the beginning in the middle of the middle and we have not seen yet the biggest fireworks of this global banking catastrophe
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is yet to come both carry protection and they're not found out very very briefly to be savers that they're winning as you say to have a name and a face who are these guys. well i'm you know this is the silver liberation army but i started my kaiser report show artsy is part of the savers around the world that are looking our chops at the collapse of the us dollar and the us bond market because you know we were using were all for free markets that's why you're to blame i found my. macro we're out of time but thank you so much i really do appreciate you spending some time with their new york where as we continue the countdown to potential default grim predictions for the future are already a reality for some american towns and artie's want to see if you're going to travel to gary indiana a ghost town whose sad fate could affect us sir. this is america's ghost town.
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just twenty five miles from downtown chicago gary indiana the symbol of urban blight by some compared to post evacuation sure noble by others it is a sad thing really is and very depressing. when you see something like this in this kind of condition. just continue to age and continue to fall apart this is the city methodist church today it's an abandoned shell with rusted ceilings rotting john and graffiti on the force of sites fall into this kind of disrepair. it's almost like a lot of lawns all. historical soul built in the one nine hundred twenty s. first a place of worship leader a community center that is now at the forefront of gary's decline were used to be a symbol of architectural might and brought the people of gary together is now an enormous streets filled with ruins where the only form of life for the pigeons that
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flying through the walls and the ceilings urban explorers historians and architects are saying that the chances of this place ever being rebuilt are close to zero so it looks likely that this place as well as many others throughout gary are on their way to completely seizing to exist. founded by u.s. steel corporation in one nine hundred sixty a town of gary wants to meet with manufacturing jobs but competition from overseas led to a ninety percent cut in the workforce the one industry urban center came crumbling down was the steel plant. starter it's the loss of thirty thousand jobs. that meant that the population. grows smaller the revenues for the city will go down and so that accelerated and sort of snowball gary's population has been cut by half as many fled in search of work it is now almost. lucidly african-american over eighty four percent up to one third of who
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work in one of the talk ten most dangerous cities in america twenty nine alan has had no work for three years there's really no right job opportunities here i mean. you know what you're looking forward to but then again i. never hear the downtown area is now no town i mean commercial street and urban desert as the economy here collapsed so did countless businesses small and large creating a town where sites like this a common hope was long forgotten door shops windows locked mom and pop shops abandoned the two growth businesses are strip clubs and. truck stop meeting place and city hall stands right across from a former hotel a haunting sight during barry's he clears places like this would become a temporary home for out of towners visiting this place the hotel is now deteriorating there are no windows left and the police cars outside making sure
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squatters don't get in there's no other hotel left in this town there are no investments flowing into this area nowadays instead there is only hopelessness building up to makes me sad. but it's like it's like. well i think it would be best if i relocate you know anywhere here nothing here. but really there is not much to be found elsewhere either while gary is a symbol of collapse industry has been dying all across the u.s. promises of a manufacturing revamp are all the rage places like this are being a race from a map of america as they sit your party gary indiana. all right well the political debt debate may have eclipsed all the other paddles that we're facing right now but don't forget folks we are still at war several wars in fact now whether you agree with the politics of u.s. airstrikes in afghanistan iraq pakistan somalia yemen i think i have all of those
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the list seems to be going on whether you believe that our national security absolutely demands that we could bases in over half the countries on this planet whether you vote democrat or republican or not at all it is time folks to face the facts we cannot afford to keep separating the fiscal crisis from the wars i mean does it actually make sense to spend so much money on defense and the economy seems to be teetering on the blink brink of collapse beyond collapse if you listen to the next we had earlier in the show now that is of course the question that my next guest has been accepting and answering former u.s. congresswoman and presidential candidate cynthia mckinney just returned from a fact finding trip to libya and she's with us live in new york congresswoman thank you so much for taking the time to speak with us before we get to these foreign wars before we get to these florida wars i really want to turn to the one right here in the nation's capital these are your former colleagues here what the heck is going on. that's what the american people are asking as well i am on
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a nationwide tour we've been to about fourteen cities we have. probably half that left to go to to visit and people are asking what is going on in washington d.c. and then of course as the drones keep falling elsewhere around the world in the american war machine just seems to ravage on people and the rest of the world are also asking what the heck is going on in washington d.c. i'm very saddened by the story that you just played about gary indiana and this kind of situation is happening all across our country the united states is becoming a shell of itself and at the same time it's the decision makers in washington d.c.
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have chosen to finance war after war after war after war death and destruction in other parts of the world while we decay here at home and congresswoman i mean it doesn't even matter who is in power whether it's the democrats or the republicans anymore i mean it seems that these kind of decisions continue to get made regardless of who is in power well i think it does matter who's in power but we have a democrat in the way ours and the. and that's not my point it doesn't matter who's in the white house the problem however is that who's in the white house so far has been from the democratic party or the republican party and both of those parties have proven themselves to be war parties that is the problem so just as we are seeing. the political process open up in green party members being
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able to enter into the european parliament the parliaments of the various european states even in canada now i think the voters are going to have to understand that they've got to vote neither democrats nor republicans if they truly want peace and justice and a sane economy that respects our environment and respects the people who contribute to it are and you just of course returned as i said in my set up there from trip to libya what message do you have for the american people based on your experiences there. the united states has no business being involved in the death and destruction that is going on in libya right now the united states needs to take care of home and i am pleased that sixty percent or more of the people of the united states agree with me very many members of congress agree with me and so what we've got to do and that is one of the functions of this nationwide tour is to
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encourage people to don't give up to continue to contact your member of congress and tell them stop financing the u.s. war machine in every town that we've been to they're laying off teachers people are asking for health care people are asking for jobs they're asking for a decent education for not only their children but the opportunity to provide lifelong learning you cannot have guns and butter we established that very clearly with the vietnam war and the presidency of lyndon baines johnson you cannot finance war and finance the needs of the people so cut out the war financing and bring those war dollars home with a strong message and. i'm trying not to hold my breath until the folks here in washington really listen but you raise a good point is that that the american people are tired of this conflict they're tired of the war in libya not to mention afghanistan iraq it does seem to be the
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consensus according to polls but yet when called like yourself come out there and make messages like this sometimes you see the establishment attacking you individually and i actually want to play you something that fox news had on the air on bill o'reilly's show just a few days ago take a listen. we have been watching former georgia congresswoman cynthia mckinney because she's traveling in the muslim world saying awful things awful things about her own country and we believe it's because he's being paid to do this but we can't confirm that what's your response when you hear something like that well it's absolutely ludicrous that thought's new believes that they are the only people who can provide a prism of or a view into what's happening in washington d.c. and that they are the only ones who can make commentary fox news is not mentioned one bit about the wiretapping and the hacking into the pot the possibility that it
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happened right here in the united states and so i agree with members of congress who are now asking for that kind of an investigation of just exactly what the truth is with respect to not just fox news but the behavior of all the media who have been given a license to mutilate the truth particularly with respect to the wars that are going on now well it's interesting that you bring that up because in that segment parcel bill was interviewing a fox business reporter i don't know why they brought her on to to sort of tear you apart here but apparently they didn't like the fact that you were speaking to foreign media let me play another sound bite that we have there after she made these comments she was also on libyan state television criticizing a number of things about the united states including president obama's own policies the state of this country i thought where this country is about
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a free access to information regardless from where. well we say that we are the paragon of free speech and with a paragon of democracy but the fact is that one certain people exercise their freedom of speech then of course that's not the speech that they want to hear the fact of the matter is that the american people by vast majority agree with me that we need to bring our war dollars home the united states conference of mayors has said the same thing that the war ballard's need to rebuild u.s. citizen cities and that we need to bring those war dollars home i cannot reiterate more the need for us to rebuild our city so that we don't have gary indiana as replicated across the american landscape that is the situation if you go to gary indiana detroit michigan you go to benton harbor i just came from newburgh
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new york where the people are languishing and government is not servicing their knees people everywhere i stopped are asking for health care something as simple as providing the means to live of a quality of life that is one of the responsibilities of government not to go out across the world and rattle sabers and other countries and then also deal in the death and destruction that is engaged in war and congresswoman i really don't like to leave bill o'reilly hanging there and i wanted to respond to the last last last question that he seems to be struggling with let me play that one last thing then. she's obviously not paying her airfare to these countries you've got to you know to get into them is not an easy deal to get to tripoli now it's not easy to get to turn around it's not easy somebody is behind us we just don't know yet so
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who's paying you congresswoman as it means that the chinese or the corrections who is it. well you know what he didn't say was that the fox news reporter just recently was trying to get into tripoli and was refused at the border now any other person who applies for of these can get in but you cannot get in if you're calling for the purpose of lie and of course. so whatever it is that they want to say fox news can say whatever they want to say they are even losing their own credibility even with the american people their viewership is calling the viewership piri piri it is falling because the true story is being told by outlets like russia today for example you've had me to come on although i didn't know what the subject matter
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was going to be but i made it a point to get here i was a new bird new york campaigning with a an african-american who is trying to become the mayor of newburgh new york after the police have murdered his son this is the kind of situation that happens in the united states we have on our young people of color who are being murdered on the streets of the united states through a really truly truly impressed us congresswoman and this is something that we definitely do want to keep bringing attention to here in archie i really do appreciate you taking the time to speak with us former u.s. congresswoman and presidential hopeful cynthia mckinney. now that is it for this hour here on r.t. america of course the news does not end with this broadcast plenty more stories and details on our website r.t. dot com slash u.s.a. and you can go to our youtube channel youtube dot com.

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